Research On Risk Evaluation Of PPP Project Of Public Sports Venues Based On Entropy Weight TOPSIS Model

At present,China has entered the development stage of a new era.The proposal of national strategies such as "sports power" and "healthy China" has ushered in important development opportunities for China’s sports industry.The construction and operation of public stadiums and gymnasiums is the material basis for the development of sports industry.At present,the policy encourages the construction and operation of public sports venues to adopt PPP mode,which can not only effectively alleviate the financial pressure of local governments,but also improve the efficiency of venue construction and operation.At the same time,stadiums and gymnasiums also face huge cooperation risks under PPP mode.Whether they can effectively deal with the risks is an important content that relevant subjects should consider when making construction decisions.Therefore,based on the risk management theory and principal-agent theory,this study takes the risk factors faced by the government and social capital during the cooperation period of sports venues PPP project as the research object,and constructs the risk evaluation index system of public sports venues PPP project by using the methods of literature,case analysis and entropy weight TOPSIS,It also puts forward the risk sharing scheme of PPP project of public sports venues in China and the corresponding risk response suggestions.Main conclusions:(1)Based on the principal-agent theory,this paper analyzes the causes of PPP project risk in public sports venues.According to PPP national demonstration projects of public sports venues and relevant documents,seven key risks are sorted out: politics,law,market,construction,operation,financing and nature.(2)The entropy weight TOPSIS method is used to construct the risk evaluation index system of 10 primary indicators and 57 secondary indicators from the macro,meso and micro levels.Using Delphi method and taking the comprehensive evaluation index not less than 0.4 as the standard,41 key risk indicators affecting the construction and operation of PPP projects of public sports venues,such as political stability and insufficient PPP experience,are selected from the secondary indicators.(3)Delphi method is used to determine the sharing Party of 41 key risk factors,and it is considered that the project risk is mainly borne by the social capital party,including market,financing,construction and operation risks;Political risks are mainly borne by the government;The risks shared by government and enterprises mainly include natural,legal,cooperation,third-party and social risks.On this basis,it puts forward risk response suggestions such as establishing special management organization,improving contract content and strengthening qualification review.(4)Using the case analysis method,taking the PPP project of Kaifeng sports center as an example,41 key risk indicators are applied.The evaluation results are as follows: the project mainly faces 8 types of risks: politics,law,society,nature,market,construction,operation and third party,including 17 secondary key risk indicators such as political stability and government intervention.Except that the construction risk and operation risk are borne by the enterprise alone,other risks are shared by the government and enterprises.And put forward targeted risk response suggestions such as improving risk awareness and strict internal management.